Rwanda Update: Trade Financing Agreement

Aterian Plc (LSE: ATN), a critical metal-focused exploration and development company, is pleased to announce that, further to the announcement of 12 March 2025, it has now signed a trade finance agreement ("Agreement") with a global commodity trading and financial house ("Financier"). This Agreement marks a transformational step forward for Aterian's trading division and represents a tangible execution of the Company's strategic vision to build a scalable, revenue-generating platform supporting its exploration and development activities across Africa.

Charles Bray, Chairman of Aterian, commented:

"This is a significant milestone in Aterian's strategic journey, marked by the signing of a transformative trade finance agreement. This facility, totalling up to USD 4.5 million, marks a pivotal step in transitioning Aterian from a solely exploration-focused company to an operational trading entity capable of generating consistent revenues.

Significantly, this income-generating structure reduces our dependency on equity financing, helping to preserve shareholder value while accelerating our commercial strategy. This Agreement enables the immediate funding of tantalum, niobium, and cassiterite consignments and positions Aterian to benefit from commodity sales while leveraging minimal upfront capital.

We remain deeply focused on our core strategy: unlocking the value of Africa's critical mineral resources while ensuring a financially disciplined approach. Combined with our existing exploration partnerships, including the joint venture with Rio Tinto in Rwanda, this Agreement significantly strengthens our platform for long-term success.

On behalf of the Board, I thank our shareholders for their continued support. We look forward to updating the market as we realise the benefits of this agreement, receive the drill assay results, and execute our broader growth objectives."

Under the terms of the Agreement, the Financier will provide a USD 4,500,000 operational trading facility ("Trade Facility") to provide funding of the traded minerals and will be utilised immediately to fund the additional trading of tantalum, niobium, and cassiterite. The Trade Facility has an interest rate of 1-month SOFR (Secured Overnight Financing Rate) plus 3.5%. The Agreement has a five-year facility period, commencing immediately.

Outlook - Strengthening Foundations for Growth

This Trade Facility provides Aterian with immediate capital to expand its mineral trading business by significantly scaling up its mineral sourcing and trading volumes across Rwanda and the broader region. This development is expected to contribute to early and growing revenues, reinforcing the Company's goal to cover operational expenditures through trading cash flows.

Aterian's strategy is centred on developing critical minerals across Rwanda, Morocco, and Botswana, particularly copper and lithium assets. Several high-priority exploration projects are underway, as the Company continues to position itself as a major player in Africa's critical metals mineral exploration industry.

The Aterian partnership-driven exploration model has already demonstrated success with a landmark lithium exploration joint venture with Rio Tinto Mining and Exploration Limited ("Rio Tinto") in Rwanda, which commenced in late 2023. This joint venture is expected to shortly demonstrate results, which will also include the potential for tin, tantalum, and niobium discovery. Importantly, these so-called bi-product minerals are value-added to the Company in all cases. The Company's collaborative approach will continue to be a cornerstone of its strategy, ensuring sustainable growth, minimising expenditure, and increasing shareholder value as the Company advances its priority projects.

Rio Tinto JV, Rwanda - Drill Update

The completed drill programme on the HCK Project comprised four drill holes for 1180 m, targeting the HCK-1 and HCK-2 prospects. A total of 870 diamond core drill samples were submitted for laboratory assay analysis in Q1/2025, with the results now being received and analysed by Rio Tinto.

Community and Environmental Responsibility

Aterian and Rio Tinto are committed to maintaining strong relationships with local communities and conducting exploration activities in an environmentally responsible manner. Ongoing engagement with the local community and authorities remains a priority, including support for local schools. All activities are conducted with a focus on health, safety, and environmental stewardship.

For further information, please visit the Company's website: www.aterianplc.com or contact:

Aterian Plc:

Charles Bray, Executive Chairman - charles.bray@aterianplc.com

Simon Rollason, Director - simon.rollason@aterianplc.com

Financial Adviser and Joint Broker:

Novum Securities Limited

David Coffman

Colin Rowbury

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Adam Cowl

Financial PR:

Bald Voodoo - ben@baldvoodoo.com

Ben Kilbey